- ISIN
- US00771F7987
- CUSIP
- 00771F798
- Issuer
- Advisors Preferred
- Inception Date
- May 31, 2015
- Category
- Tactical Allocation
- Min. Investment
- $1,000
- Distribution Policy
- Distributing
- Asset Class
- Equity
Share Price Chart
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Performance
SAPEX Performance Chart
Spectrum Active Advantage Fund (SAPEX) is down 2.2% since the beginning of the year. SAPEX is currently trading at $19 per share. Investors who bought $1,000 worth of SAPEX shares 5 years ago would now be looking at an investment worth $880.
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Returns By Period
Spectrum Active Advantage Fund (SAPEX) has returned -2.18% so far this year and 10.09% over the past 12 months. Over the last ten years, SAPEX has returned 4.99% per year, falling short of the S&P 500 Index benchmark, which averaged 13.88% annually.
Spectrum Active Advantage Fund
- 1D
- 0.31%
- 1M
- 0.31%
- YTD
- -2.18%
- 6M
- -3.22%
- 1Y
- 10.09%
- 3Y*
- 8.91%
- 5Y*
- -2.53%
- 10Y*
- 4.99%
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
SAPEX Monthly Returns History
Based on dividend-adjusted daily data since Jan 4, 2016, SAPEX's average daily return is +0.03%, while the average monthly return is +0.49%. At this rate, an investment would double in approximately 11.8 years.
Historically, 60% of months were positive and 40% were negative. The best month was Apr 2020 with a return of +9.8%, while the worst month was Mar 2020 at -13.8%. The longest winning streak lasted 7 consecutive months, and the longest losing streak was 6 months.
On a daily basis, SAPEX closed higher 52% of trading days. The best single day was Apr 29, 2020 with a return of +5.8%, while the worst single day was Nov 20, 2020 at -15.5%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | -0.56% | 0.66% | -5.58% | 2.42% | 2.31% | -1.23% | -2.18% | ||||||
| 2025 | 0.00% | -0.45% | -1.01% | 0.15% | 3.18% | 3.41% | -0.11% | 2.66% | 3.27% | 1.25% | 0.71% | 1.34% | 15.25% |
| 2024 | -2.92% | 2.36% | 1.04% | -4.63% | 4.01% | 5.26% | 3.14% | -0.87% | 0.71% | -4.02% | 4.87% | -3.13% | 5.25% |
| 2023 | 4.01% | -2.57% | -0.94% | -1.00% | 1.10% | 2.18% | 4.01% | -2.65% | -2.97% | -0.89% | 4.18% | 7.65% | 12.11% |
| 2022 | -7.84% | -7.14% | -3.32% | -13.10% | -5.59% | -2.32% | 1.55% | -2.93% | -0.78% | 0.79% | -0.24% | -5.02% | -38.08% |
| 2021 | 0.17% | 2.32% | 0.27% | 3.54% | 2.77% | 5.52% | -4.12% | 1.47% | -4.82% | 5.87% | 2.75% | 0.77% | 17.15% |
Benchmark Metrics
Spectrum Active Advantage Fund has an annualized alpha of -3.01%, beta of 0.67, and R2 of 0.54 versus S&P 500 Index. Calculated based on daily prices since January 04, 2016.
- This fund participated in 81.46% of S&P 500 Index downside but only 55.97% of its upside - more exposed to losses than it benefited from rallies.
- This fund had an annualized alpha of -3.01% versus S&P 500 Index - delivering less than market exposure alone would predict.
- Beta of 0.67 indicates this fund moves significantly less than S&P 500 Index - a genuinely defensive profile with reduced participation in both market rallies and downturns.
- Alpha
- -3.01%
- Beta
- 0.67
- R²
- 0.54
- Upside Capture
- 55.97%
- Downside Capture
- 81.46%
Expense Ratio
SAPEX has a high expense ratio of 1.69%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
SAPEX ranks 13 for risk / return — in the bottom 13% of mutual funds on our site. This means you're taking on significantly more risk than the returns justify. Consider whether the potential upside is worth the volatility, or explore alternatives with better risk / return profiles.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Spectrum Active Advantage Fund (SAPEX) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| SAPEX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.08 | ||
| Sortino ratioReturn per unit of downside risk | -1.43 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.37 | -0.19 |
| Calmar ratioReturn relative to maximum drawdown | 1.27 | 2.78 | -1.51 |
| Martin ratioReturn relative to average drawdown | 3.13 | 12.44 | -9.30 |
Dividends
Dividend History
Spectrum Active Advantage Fund provided a 4.44% dividend yield over the last twelve months, with an annual payout of $0.86 per share. The fund has been increasing its distributions for 2 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.86 | $0.94 | $0.40 | $0.15 | $0.00 | $8.46 | $0.41 | $0.19 | $0.63 | $0.93 | $0.03 |
Dividend yield | 4.44% | 4.77% | 2.23% | 0.88% | 0.00% | 33.33% | 1.43% | 0.74% | 3.09% | 4.26% | 0.17% |
Monthly Dividends
The table displays the monthly dividend distributions for Spectrum Active Advantage Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | ||||||
| 2025 | $0.00 | $0.00 | $0.00 | $0.08 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.53 | $0.00 | $0.33 | $0.94 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.24 | $0.00 | $0.00 | $0.12 | $0.00 | $0.00 | $0.04 | $0.00 | $0.00 | $0.40 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.15 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.15 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $7.02 | $1.43 | $8.46 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Spectrum Active Advantage Fund. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Spectrum Active Advantage Fund was 40.48%, occurring on Mar 13, 2023. The portfolio has not yet recovered.
The current Spectrum Active Advantage Fund drawdown is 19.33%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2023 bear market2023 | -40.48%Mar 2023 | 1y 2mo | — | 4y 5moDec 2021 - now |
COVID crash2020 | -26.50%Apr 2020 | 1mo 11d | 4mo 26d | 6mo 7dFeb 2020 - Aug 2020 |
Rate-hike selloffLate 2018 | -17.14%Dec 2018 | 3mo 26d | 4mo | 7mo 26dAug 2018 - Apr 2019 |
2020 correction2020 | -16.06%Nov 2020 | 3d | 2mo 20d | 2mo 23dNov 2020 - Feb 2021 |
2020 correction2020 | -11.51%Sep 2020 | 22d | 1mo 15d | 2mo 7dSep 2020 - Nov 2020 |
Drawdown Indicators
| SAPEX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.48% | -56.78% | +16.30% |
Max Drawdown (1Y)Largest decline over 1 year | -7.62% | -9.10% | +1.48% |
Max Drawdown (3Y)Largest decline over 3 years | -11.57% | -18.90% | +7.33% |
Max Drawdown (5Y)Largest decline over 5 years | -40.48% | -25.43% | -15.05% |
Max Drawdown (10Y)Largest decline over 10 years | -40.48% | -33.92% | -6.56% |
Current DrawdownCurrent decline from peak | -19.33% | -1.80% | -17.53% |
Average DrawdownAverage peak-to-trough decline | -14.63% | -10.71% | -3.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.09% | 2.03% | +1.06% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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